tv Making Money With Charles Payne FOX Business August 8, 2015 6:00pm-7:01pm EDT
making money starts now. >> the bear no longer so stealth. the dow now down 7 days in a row. but amounts to great buying opportunities. and the gop debate still all the rage, the winners and the losers and how should investors feel about it? plus lisa vanderpump in the house. but first jessie jackson and the progressive plan to make it all right. making money starts right now ♪ ♪ ♪ >> well, i've got a very
special guest tonight joining me now, the reverend jessie jackson and i have to tell you one of my heroes as a child, especially when he said i am somebody, i always felt it. but i also think today the old civil rights model that they helped create went sort of, like, hey, give me a shot, probably should we replace with give me a shot, i do have the skills. and if that's the case, then a lot of the elements are going to have to be placed on blacks, hispanic, and other groups if they want to earn success. and, reverend, i know you've been pushing hard. but if a black person doesn't have the computer skills, how can google give them a job inspect >> well, they really can't. but the fact there's no evidence that the blacks and latinos can't learn coding skills and app skills and financial that's what we train here in america.
our absence is not natural, but it's normal. for example, in addition to the coding skills dimension, those -- the top 25 silicon valley companies 189 members, three blacks, one latino. three blacks and three latinos around 2%. that does not represent what started represent our capacit >> no. i agree 1,000% it doesn't represent our capacity. the question is the solution -- for me it would have to be the education system. when we're talking about these visas with, we're talking about foreigners taking jobs or getting jobs that all raises, by the way, could have. but when you graduate 263,000 kids from china and india, they're going to get those jocks. so wouldn't you think that the families and the owners on the school systems which, by the
way, where i think the pressure should be >> what we found out is they were looking for black engineer in all the wrong places, the schools in the southeast produce about 40% of all -- they were not really recruiting in north carolina and morgan and hampton and texas southern and tennessee state. and now they've begun their process of finding engineers. there is no talent -- so that's one of the mention that we don't know we're teachable. on the other hand a major lawsuit was completed last week where three of the major companies were over pricing after latinos and target us, they had to pay a fine for that. but that was a major rip-off, they had to pay for that. the big housing collapse, three million of the nine million african-american latinos, they found i in the court that the banks were targeting loans, the blacks
violated them, they had to pay a fine for that >> right. >> so when you're targeted by all the companies and target by banks, that is absolutely just wrong. >> but -- and no one's going to necessarily argue against that. but, again, i think ultimately the answer, though, is, you know, getting a community that really does put more of an emphasis on, hey, engineering. you know, going in that direction and now this way the funnel isn't so small and the opportunities to hold people back becomes a lot greater when you've got a million who are prepared instead of a handful, it's a lot harder to hold people back, don't you agree? >> i won't agree. but getting your result from the investment. on the other hand while stem and engineering is very important, the nonstem part of silicon valley, even bigger market of lawyers, agencies, marketing, services and the like were around 2% that. tim cook said we're low in diversity in silicon valley, and it's our fault.
they're admitting. not only their fault but by missing the black and brown market. they're missing market, money, talent location and growth. so they don't stand to gain just because we've been losing, and we plan to change that paradigm >> and, again, i understand they feel that they shouldn't have recruited in different areas. but i'm telling you for me ultimately the illness is on us, black people, and hispanic people to have more graduates who can do these jobs and make those demands because you know what? it's harder to hold them back because it brings it up to the other big thing going on and president obama, you, you guys i feel like you're fighting a lot of wars of yesterday the act that has turned 50 years old and race in this country a whole lot worse. things on both sides. if you look right now, we have it on the screen, i'm not sure that you can see it. but 47% say relationships between blacks and whites are just simply not good --
>> well, actually what has happened on the voting situation is that as long as it was protected but oversight from 1965 to 2013, that was substantial progress. and the supreme court ruling in 2013 removed the oversight and what these legislature did was out of congress and stack and pack blacks in the back door of the legislatures. and that has not been good for america. and the bone was not just about blacks. by the way, the big debate last night, nobody mentioned 50th anniversary of rights. because blacks couldn't vote, women couldn't vote, you couldn't vote on college camps, you couldn't vote bilingual, and that progress is now facing on the -- >> here's the thing, though, again, and a lot of people are
alive right now say that was 50 years ago, a lot of the atrocities are older than that, you bring up the rights being watered down if you will in 2013 and yet in 2014, blacks voted as a larger percentage than any other race including white people. so how could we have two things? how could you be victimized when you were able to vote in larger numbers than anyone else? and that's what bothers a lot of people. that's what starts to crumble because there's a lot of finger pointing where it feels like there shouldn't be >> well, the vote was in some districts -- we got the 1965 after being denied for 95 years because the use of steams and large role perching. and each time the role was protected, we were able to make progress. but when the vote was unprotected, you get manipulated by rule changes.
you know, it's hard to be a first-class football player, basketball, it's hard to be the best in the world at those competitive sports. but whenever the plan is evened, rules public goes clear referee, transparent, we do quite well. a lot of uneven fields >> i just think that what you're sawing talking are so small and isolated these days and that's what offenders people. do you think that you perhaps possibility president obama bear any responsibility for the fact that racial relations are starting to crumble in this country because a lot of white folks say i ain't ever had a slave, i don't know what you're talking about, i'm trying to pay my rent and you're talking about voting be on a level when blacks out voted whites in the last election. at some point do we give that up? >> you know, history of what happened was when the protections move, the same people who had tried to under mine the voting rights act
were able to do so and essentially the styles now if white republican party and the black are the democratic party because you're able to redraw the lines and nothing changes >> this is what i want to ask you because we're running out of time and there's so much i want to ask you. how do you account for the decimal situation? those are the cities where you have the highest crime rates, the highest instances of income equality and the most despair. cities like detroit when they first elected the first democrat, it was the aparis of the west. cities like chicago starting to fall apart. major cities where black people have had the right to vote like baltimore and yet they're completely falling apart. at some point does the progressive thing of somehow engineering success or outcomes backfires? >> whatever the label is in
those areas where you have the least investment and the most investment, you have the most highest unemployment in shawing, they closed 50 public schools, 50 drugstores, 75 grocery stores >> haven't democrats run that city? >> it doesn't matter the name and the tyranny doesn't matter. and i'm less concerned about the democrats than i am about the democracy. if it's not working, we have to fix it >> sure. >> and if it cost more to educate them. the fees are not natural just because of normal. we all can do better >> there's no doubt about that, sir, but here's the thing. you're saying if it hasn't worked. that's what i'm saying. we're fighting about maybe an incident at a voting booth here or there. but for the most part what we're not talking about is when we do vote, what do we vote for? what's the outcome? and what if it's not working,
why don't we try something different >> well, for example, south carolina has a budget of $7 billion. a million people in poverty, 250,000 have no health insurance. about 50% white, 50% black. refuses $12 billion in medicaid. how could you have a $7 billion budget and refuse $12 billion to do what? to extend peoples lives. i mean that's the good programs being rejected and there is no justification for it >> there's no such thing as free money, that we know. there are some sort of -- we know there have been a lot of deals. real quick we're running out of time. you mentioned the gop debates. what was your overall take on it other than the fact that the voting rights act wasn't mentioned? did you feel that there was someone out of that field between the 5:00 and the later one in the afternoon that might be someone even you could get behind >> well, a lot of heat but not
much light. i mean no one, for example, dresses of the growing domestic terrorism in our country to have shooting and schools and what does it mean to have the shootings in colorado and louisiana? the growing number of unrest in these cities where you have this abandonment. in cleveland where a 14-year-old kid was shot down by a policeman. we cannot avoid these issues. i'm glad that fox put it on, and i thought that it was well worth watching. more entertaining than educating >> well, you know what? as the field starts to get narrow and these guys have a chance -- and gals have a chance to really explain and get into greater depth, i hope to answer your questions and more, and i appreciate you coming to the show, reverend >> well, thank you, sir >> thanks a lot. >> well, the debate after the debate, the aftermath of the gop debate still being felt almost 24 hours later. winners and losers and what it
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>> now, of course it is now the most talked about topic water cooler thing, it's the gop debate, everyone -- it felt like everyone watched it. fox news actually did have its most watched prime time debate of all time, 24 million people tuned in, and it made it the highest ranked fox cast in history. these fox news contributor and miss america from 2008. all right, tammy, your impression >> well, look, it was very exciting. i thought that the line up was very good. a lot of talent up there. america saw a variety of different opinions, a variety
of different approaches. different ideas. they saw very distinctive difference between conservativism and liberalism. loving the country, understanding the issues we face and the real desire, again, coming from different angles if you will and i think that it was a really good introduction for the american people >> so, in other words, you feel that almost everyone had a pretty good account of -- >> i think that they did. it was good for the party, but there was one winner for both debates and that was carly fiorina. she was the one person who really shined, brought new people to her, was able to tell people what she stood for, was firm, was presidential, it was the real breakout and is there was only one >> i tweeted that early in the afternoon debate, and that was one of the most tweeted things i tweeted. but what about the in the -- listen it was all about donald trump going in and coming out of it. do you feel like he -- how did
he -- what do you -- how do you rank donald trump? in other words, did he do well for himself or do you think he might have lost a little bit? >> of course donald trump did great for himself. you know, donald trump is all about donald trump, and he did a great job for his brand, he was front and center, and everyone that supported him going into it, you know, they came out with even more support. this happen. they left him even more. and some of his one liners got a huge response from the crowd. so whether or not people connected with donald trump as a person or candidate, they connected at some points with his message >> can you separate the two? >> and i think that you can. because eventually a lot of people who analyze this in the field say he'll eventually fade and force some of the other candidates to take the stronger points of their message and bring them to the american people and really key in those things that frankly at this point no one else -- >> and everybody owes the numbers of people watching to donald trump >> yeah. i think no debating that. however, i will say -- i didn't think trump was too specific on things >> no. >> and i felt that some of the other candidates actually gave us more specifics,
particularly when it came to the economy, which is interesting because he's the billionaire >> yeah. his economic ideas remain very vague, we'll remain it there. but he was talking about antiestablishment politics and basically buying off politicians, that doesn't mean outside of the establishment, and he's got no shame, admitting it on national television >> i forget which moderator asked, but okay. i've bought a lot of these politicians, which give back for it, i was a little shocked that he said hillary came to his wedding. i don't know it just -- >> it wasn't a political favor, it was more of a brand favor, like, hey, i got hillary and bill at my wedding >> it was one of those weird because things i wanted him to say listen i was going to build a 70 story building, the code said 50, i made one phone call and it was 70. gif us the scoop. >> when you look at his father who so much of his legacy was
built and unhow he came up from the democratic political establishment how he was in that club and part of that club and a lot of trump's fortune and due to that political phone calling >> and this is the very good point to that in that he's not a newbie. he does not want to give specifics, so he's not. he does not want to reveal -- look, at this point he doesn't seem to need to. but there's going to be a point in this process where people do want specifics, and it might be a few months later on, there's of course more debates this year. but he was deliberately not wanting to tell you what he got from the money >> and i think that will come out. >> well, you tease it. it's got to come out >> right. >> he's the one who teased us with this. it was his enhance. so, again, if you're going to shock the nation and unveil all the things that are wrong and you're the man that knows how to finger it, good. the first fcc chairman was joe kennedy because he knew how to manipulate the markets
>> and i feel that donald trump doesn't feel that he needs to be real specific because once he gets into the office of the presidency, he feels that he's the kind of person that would be able to quickly assess problems, get the team together to fix the problems >> real quick because they're giving me the go >> yeah. >> who won and do you feel better about the prospects of of our economy improving? >> carly fiorina overall but i think also in the second debate, scott walker still impresses me >> jillian >> rubio made a very strong standing, there was two different idealologies in the republican party >> calorie fiorina in the first, marco rubio in the second because he understands that we're not in a manufacturing economy anymore, we're in a tech and services economy, he understands what we need to do to get jobs in the 21 century >> absolutely and we had a jobs report that was absolutely crazy. and if you didn't get enough of the debate, you can tune in tomorrow night for a encore
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>> in the initial release, they say the economy added a solid 215 jobs last month and this might actually move the needle with the federal reverse. in fact, all of the evidence pointing that wall street will hike rates come september for the first time in nearly a decade. joining me now the author of death and money president and ceo of schaffer management and ms. america 2008. and anchor back with us. jim, i'll start with you. i love your work, i want people to know you're one of the smartest, well read
economists slash historianians out there >> thank you >> and what you see happening now by the most measures, the worst post recovery from a session in history ever. why are so many people in the federal reserve so anxious to say it was so great >> well, nerve 2009 talking about green shoes and the credit recovery summer. i don't think we should think of this as a recovery, we're in a depression, depressions are cycle, congress in the white house are not talking >> in other words, monetary policy no has impact, it's got to be all fiscal policy >> correct. >> and that's got to come out of washington d.c. >> that's right. it's got to come out of the congress and the white house >> well, some would argue that the policies that are coming out, fiscal and regulatory, are making this structural recession a lot worse than it has to be >> absolutely. we have amateurs in the
federal reserve and the white house. i know jim's research, it's similar to what i'm looking at. we are in deflationary depression, we're in early stages of it, i've been saying this for the past couple of years, they just updated on july 30th, st. louis website that they actually added another line there >> well, you say velocity money for the laymen. that's how much of the economy >> right. buying buying >> in other words, i get paid $100, i buy a hat from jim for 50, he buys roller skates for 25, you buy an ice cream for 25, and then she comes back to me, and we all kind of -- >> and the federal reserve tabulates this through their credit system, so they know where the money is, but it's just not moving >> and federal reserve has pumped trillions of dollars and giving it to the banks >> and the banks around lending, people aren't borrowing, they're getting money, they've got this
implied tax for the lower gasoline price but they're paying student loans, credit cards, that's not spending. >> buffalo wild wings, i guess they're spending it at restaurants, behalf m what do you make of it? tomorrow morning there will be a lot of newspapers that will say this is a good number >> there will be and they will point to many months of lower unemployment and solid number of average of 200,000 jobs add a added but it's not connected to the average american. more than half think we're in a recession, which technically we're not. we are seeing gross numbers, and they feel the economy is getting worse. so how is there this disconnect? the average money doesn't feel their money is worth as many in the economy, they don't feel safe and that's what to address. >> and i guess it's not circulating. chuck schumer comes out against the iranian deal and he's not the only party
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lisa, you know you cover this area, have you been a strong critic of the deal, a few democrats, i don't know if the numbers are there yet to derail president obama's veto threat. but schumer is a huge member of congress, this was a serious vote, that lead to deal being derailed. >> it is more symbolic than anything else, his one vote is not really going to make a difference. he has been on the fence for a while. but we did not expect him to make the announcement 4 weeks before it goes to vote, symbolically, it means a lot for those on the fence, a high profile, third ranking democrat who has come out, and not afraid to say this deal makes no sense, we hope this announcement will bring debate back to the facts, take it from a narrative that white house pushing that this is a g.o.p.
agenda to oppose deal or a pro-israel agenda. it is about the facts that is why chuck schumer put out this report defending why he came out with this decision. >> the left went crazy, a report, they have rallied the troops. all usual suspects, all crazy, they cannot believe that this guy went off the reservation on this, to lisa's point, he was on the fence, and notion that somehow you have two option, president obama's deal or war, that seems dangerous. >> there are much more than two options, but, at this point, you know, chuck schumer is looking at his constituent see. a lot of members of congress
are spen responding to their concerns. it was a compelling well thought out argument he made, he asked the question, would we be better with this deal or without it. he answered that. charles: this week president obama, equated republicans against this deal with iranian chants death to america, put them all in the same bucket. >> that was a ridiculous comparison. we see forming is bipartisan opposition to bad diplomacy, this is a deal, there is no accountability, the u.s. cannot enforce it, this is premised on false choices. it is expecting we're basing a deal off of shared interest. the u.s. and iran do not have shared interest. that is a fundamental problem. charles: and back to in addition to all things jill ran rannian aid -- gielan said,
bottom line we cannot trust, iran. every day i look up they of doing something that would make me think we signed a deal with crazy people. >> we did, we signed this deal with people who are in charge. we're marginalizing the people of iran, the neighbor in the gulf states that have warned us about this deal, lawmakers back at home, only people who are gaining here, if you read the iranian news -- state news, which i translate on a daily basis, of course, they are calling this is a 6ry, going forward -- victory, there will be more -- >> a victory, and still calling for death to america thank you, ladies.
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up, a few weeks in july that pace picked up. could record low-car low, cashd mutual funds spark a market crash? people are saying it is not such a wild thing that the mutual funds have redemptions, they don't have any -- they have to find it somewhere, you start to sell things that maybe you don't want to sell that triggers additional selling, it that happen? >> we have been in a tough time in last couple of months with scared investors. we also have had liquidity issues in europe where people are raising capital. i see this as a great opportunity, when money runs away we like to invest, we're passed earning seen, there are great opportunities here. charles: when disney starts to
get shellacked, and hit people say, you know the rally is 6 years old, i saw dan shafer say we're in a depression, i am going to call microbar and cash out for -- i am going to call, microbar and cash out for now. >> i am expecting a prolonged period of time that withdrawals continue to come out of mutual funds they hold low levels of cash like you said, so they will have to sell some of the blue chip name they have owned for 20 years. that is where the cycle is. people hear in news that market is going dawn they call up or redeem more, a cycle. charles: you know, when we talk about market stock market, a lot of people who are casual observers say just because it is high or near record highs they think there is a certain amount of enthusiasm, there has never been real enthusiasm c this rally -- with this rally particular on investor side.
we have seen them draw it from mutual fund maybe put it somewhere else, is that a way of giving up on america or just finding value somewhere? you sell that much stock in american companies to me is says you don't believe in in. >> i am not giving up on america, and i am not getting again it. i find an opportunity when people are scared you put money in the market. we've seen this earning seen is rotation, with a wake 74 -- a weak semiconductor, and industrial, we're seeing a downdraft, this is a mini-mortgage meltdown. charles: what sparks a resurgences. down today 23 bucks, in -- 43 bucks in oil, to think that oil was up over 100 bucks less than a year ago, that speaks to the economies not just the fact
that oil was overvalued. >> a clear signal of slowdown in prices and spending, people are not out and excite, big problem is that bonds have been issued by some oil company that rely on $100 oil even russia needs 90 dollar oil to break even had is a beg underlying problem in the economy. >> thank you. real housewife star lisa vander pump is joining me next, she is a successful businesswoman, restaurateur, and i read she has a net worth over 65 million, where is jiggy? that is what i want to know. ♪ have you ever thought, "i could never do that"? have you ever thought... you just didn't have anything left in the tank?
reality tv star, business opener lisa vanderpump and her dog, jiggy, he made it out. >> wake up, jiggy. charles: hey, a pom a -- >> yes. >> he lost his fur. charles: i guess that is a reason that people love you, this building was abuzz, people who never talk to me. >> it was about jiggy. charles: it was about you, they said lisa vanderpump, you are known for our success in. you have wine, spirits, restaurant, which is doing best? >> restaurant are our bread and butter, we have 26 in total, we
have 3 in los angeles, they keep it rolling. we just started this sa -- tsvangiraia -- sangria it has done well. my daughter wanted to take it to the market, it was a lot of work, but it has done well. in 33 states, many countries. so, i never see my daughter any more. they have done well with that. vanderpump pets is my passion right now, i am dog obsessed. i have 7 dogs. a lot of what we're doing it working with dog charities, and my main priority this year, i will be instrumental in stopping torture against the poor dogs the sacrifice.
the dog meat festival every year in china. we're organizing a march in l.a. charles: i have seen every time that link comes up. >> you turn away. charles: i think that is one reason that we meet peal like you to say -- people to say don't turn away. >> stop it. i hear you my timeline is often covered with it i have to flick lou through it. we have to address, that i don't value them as pets, i see how incredible they are as animals. charles: man's best friend, bottom line. >> they are. charles: i have 3 yorkies, they are spoiled. you have so many different ventures, you touch so many different parts of the country. what is your assessment of our
economy, how well people are doing? it feels like your country has branched off to two, people who are doing extraordinary well, and the rest who are struggling? >> i see that, it is important to be involved in charities, but i think you could get a great reading how the country is doing in restaurant business, we hit a hard recession, we saw a decline in business, i don't think that anybody running their business, same way they were a few years ago would still be in business, we saw restaurant slowdown then close all around us, so, but now, i think we're doing better, i do, i see you know people are spending more money not like it was am but i think we have a revival. charles: how do you do business in california? >> i know that -- >> i tip my hat to you. i am glad entrepreneurs are willing to to that.
i have never seen a state you know push -- >> on the side of the employer rather than employee -- employee rather than employer. >> right. >> we had a lawsuit, and he was found not guilty, trust me we've been there we don't understand a lot of the system. but, the restaurants are doing well. >> they are. >> they are successful, thank god -- it is a lot of hard work, now i am in a time in my life, on two reality shows. and i work with incredible team. charles: i heard that you had this habit of leaving your watch every time you were interviewed. >> that was for you. charles: nice. great to see someone wear success not be ashamed of it. >> it foes well with your
wednesday -- it goes well with your wedding ring. charles: thank you very much. >> lisa vanderpump, you are amazing your story is amazing. charles: we have a coming up ask payne spread round -- speed round, a tough couple of weeks, and we'll talk about stucks you might want to buy monday, it has been a tough time. ask us any questions. this allergy season, will you be a sound sleeper, or a mouth breather. well, put on a breathe right strip and instantly open your nose up to 38% more than allergy medicines alone. so you can breathe and sleep. shut your mouth and sleep right. breathe right. i built my business with passion. but i keep it growing by making every dollar count. that's why i have the spark cash card from capital one. i earn unlimited 2% cash back on everything i buy for my studio.
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does it really matter? we've seen a lot of hot ipo stocks, fitbit had an amazing number, it pulled back. i would rather chase it as opposed to let it being in. let it shake out, shack, of course, we know it's a hot brand, but the stock has been a little volatile. what would you do with something like that, dan? >> i would not be a buyer. those earnings could be on either side, and there's still a lot of money to structure. the stock could get slammed if it's wrong. charles: chris? >> i would stay away from these higher multiple names. i think they're spending money on obamacare and -- charles: all right. let me also, i talked about maybe a stock to buy, there's one name i like a lot, and it's been volatile. the ceo was on with maria this morning, harmon international. when we first started i think it went from 70 to 130. pulled back sharply.
i think it's finally found a bottom. i would add the caveat i think it's somewhat volatile, but the price is right. there's a name you've been watching also, dan. >> yes, cyclone pharmaceuticals. it's scln. i own it about 10 cents, 15 cents higher than where it closed today 689 it's one of the few biotech companies that makes money and has a product. it's a $15, $16 stock of the year. charles: chris? >> i liked supermicro commuter. they really bucked the trend with enterprise, and they're going to have to cover at some point. charles: a lot of these names, i saw it was up one point, did it end up the week up or down? >> i think it was flat, but the guidance was great. charles: what about apple, diss? you've got to be licking your chops a little bit. disney at this level is a year and a half, two-year level.
now it's adjusted for value -- charles: you're 40 years old and you don't own disney -- >> this is a perfect entry point. charles: what do you think, chris? >> we love content, it's a big thing going forward, they're going to be able to monetize their library. chiz chiz skyworks is a name we shared on this show, i did well with it. looked good today. i didn't jump in, but it did look good. before we go, we've got to salute american success because that's what we love to do. oxifresh, its millennial founder, jonathan barnett, the company was created in august, 2006, in denver, colorado. he chose to go into the carpet business because of the simplicity and the low cost. he used his student loan money, that's how he got it started, right now the company is working on more than 500,000 projects. all right, guys, i know it was a tough week, a tough two weeks,
but i think there's some opportunities around the corner. this is not the time to panic, it's the time to keep your head on a swivel. catch us every night at 6 p.m. you can't see the show, dvr it. you also don't want to miss a >> good evening, everyone, i am lou dobbs, but first, we're the presidential debate wrapping up. there were friary in heated exchanges between most of those leaving in the polls for the public and nomination and in my opinion this is one of the most substantive and intelligent debate that i've witnessed in my career. you will see and hear forthright discussions of the issues that the candidates took up, issues that usually are avoided at all cost by the candidates in a presidential